Celebrating EIP-4844 with by sponsoring user gas!
We're funding up to $50,000 of sponsored gas costs to celebrate EIP-4844
Henri Stern
|Mar 13, 2024
EIP-4844 goes live on Ethereum Mainnet on March 13. It introduces a new storage type (blobs) on Ethereum mainnet that allows more gas-efficient storage of rollup state from L2s. Concretely, this means that running transactions on L2s will be dramatically cheaper than it was before.
How we got here
Gas plays a major role in decentralized systems, preventing spam and regulating network congestion. But the idea that Internet usage should be directly metered for users—as it currently is for each of us when we pay gas—is an artifact that remains from crypto’s earliest days. Users paying gas is akin to users using coin-operated phones to place collect calls, or paying Netflix for every MB streamed on a daily basis. Concretely, 4844 means products will be able to easily sponsor gas on behalf of their users, much as online businesses pay for their server costs today as a traditional COG.
In celebration of 4844 and the advent of gas sponsorship on chain, Privy is partnering with leading gas abstraction providers on major L2s to fund our customers’ gas fees.
How we're celebrating
Concretely this means we are giving away up to $50,000 of funding to all applicants (grants between .05 and 1 ETH), in the form of direct funding of your gas tanks with leading vendors like ZeroDev, Pimlico, Biconomy, Stackup, Syndicate, Coinbase Cloud and Alchemy Account Kit. We recommend stacking this with Base’s gas credits program. It’s time to build! Apply here and we’ll reach out to make it happen. All awards will be made within 72 hours.
Enabling cheaper gas for onchain systems is a major step to bridging the UX gap in crypto and we're excited to see more developers sponsor users’ gas! This will have two major impacts on our industry:
It will unlock new experiences for users. By enabling developers to easily pay for users’ gas costs, it will lower the bar to a first transaction and enable more things to come onchain that were hereto deemed of too little value to warrant paying gas for. Expect big changes to gaming and experiences for new users, notably. First impacted will be account abstraction, which will become far more affordable for developers on L2s.
It will drive the creation of new business models for crypto companies. Companies who fund their users’ transactions will be at a massive advantage from a UX standpoint. This in turn will force companies to rethink their business models and bring real value to users so as to pay for this sponsorship.
We can’t wait to build better experiences with you for your users.
Onward!
